THE Malaysian Competition Commission (MyCC) will monitor the industry following the government’s decision to discontinue chicken subsidies and price controls yesterday.

MyCC chief executive officer Iskandar Ismail said the transition period will reflect a shift of price from RM9.40 per kg to a market driven pricing structure.

“As of now, we see that the competition is showing positive signs,” Iskandar said in a statement today.

“MyCC observes the supply shows no disruption and price on the first two days varies between RM6.49 per kg to RM11.00 per kg,” Iskandar said in a statement today.

Putrajaya announced the ceiling on chicken and egg prices were lifted to allow the market to determine the prices.

But on Monday, Agriculture and Food Security Minister Mohamad Sabu said the subsidy and price control would remain for eggs.

Iskandar also said the commission has not received any complaints yet.

“While acknowledging the existence of competition, we will monitor any signs of anti-competitive behaviour.

“The lift of subsidies and ceiling prices should not be taken advantage of.

“In an investigation by MyCC last year involving feed millers, we will act if the market shows any indication of distortion,” he said.

Iskandar said the commission is working with the Domestic Trade and Cost of Living Ministry and the Agriculture and Food Security Ministry and the ministries will provide MyCC data to detect and respond to any signs of market distortion.

“MyCC understands the importance of chicken as one of the main sources of protein and will ensure the existence of healthy competition in the market,” he said.

Iskandar said MyCC welcomes any complaint or sharing of any information from the consumers and enterprises.

He said they may do so via MyCC’s website or any other ways that are convenient to them.

From February last year to September, chicken and egg subsidies cost the government RM3.8 billion. – November 2, 2023.